Whether you are planning a birthday party, an engagement function, wedding or an anniversary; if it is a celebration, then it is going to require money. And if you have not planned out your budget responsibly then the whole event can turn out to be quite chaotic, not to mention you will be wasting a lot of money on wrong resources. For an event to turn out successful, budgeting is necessary. In fact it is the most important part of any celebration and the first and foremost thing that one needs to be dealing with before making any other preparations.
Why is budget planning important?
- Listing down priorities
There are many things to consider for a celebration. You have to decide a venue, think of catering, number of guests, decorations, gifts to be given, and invitation cards to be printed. All of these require money. You need to know how much you will have to spend on each. The number of guests you plan to invite will determine the base of your budget because depending on that you will need to decide if the venue will be big or small and the catering order as well. Once you start listing these priorities down, you will realise that some require more money and some less; some are essential while some can be avoided. This helps to create an outline to your event planning while deciding the budget.
- Managing finances
This is another reason why budgeting is important. Once you have listed downs things that need to be done, you will have to calculate the costs for them all to get an idea of the expenditure. Once there is a figure in mind, then comes the bigger question: are you financially capable to manage that sort of expenditure? For example, if you plan on buying your girl an engagement ring, then after calculating the expenses, you will know that jewelers in hatton garden have amazing discount offers. Budget planning gives you an idea of your capacity to spend. If you think the expenditure is too much then you can cut down on a few non-essential things such as fancy return gifts or grand decorations. You could even cut down on the food items and ask for bulk discounts. All these managements can only be done if you have the budget for the function ready. Otherwise things are likely to go out of hand.
- Fund raising: yes or no
A planned budget helps you decide if you want to pay for all of it yourself or have sponsors. You could have fundraiser programs, either personally or even virtually where people might donate and sponsor the celebration. This is quite a common practise these days so the celebration isn’t a burden on the host. Also, there are celebrations/events where you could ask guests to bring a food item; kind of like pot luck and then everyone could share and eat. This will save a lot of money on catering and it adds a great personal touch to the celebration.
- Successful celebration
Your celebration or event is more likely to be successful is everything is well planned. Organization is extremely important irrespective of whether the event is large scale or small scale. Any sort of celebration requires preparation and the fool-proof the preparation is, the better the event turns out to be. With a ready and planned budget, you will have things in control and know where and how your money is being spent. It is definitely the wisest thing to do. If the celebration is an engagement then you should try out the Hatton garden engagement rings for your partner. It is trending in the jewellery market.
